The investment seeks high total return by investing in high-quality, non-dollar denominated government and corporate debt securities of foreign issuers.
The fund invests at least 80% of net assets (plus the amount of borrowings, if any, for investment purposes) in high-quality bonds with outstanding maturities of at least one year. Generally, it purchases only bonds denominated in foreign currencies. The fund may hedge up to 25% of total assets into U.S. dollars when the portfolio manager considers the dollar to be attractive relative to foreign currencies. It may also invest up to 10% of assets in emerging markets debt securities. The fund is non-diversified.